This is a lazy man’s approach - Allotey Jacobs on NDC's BoG picket plans

Bernard Allotey Jacobs, former Central Regional Chairman of the National Democratic Congress (NDC), has criticized the NDC's intention to picket at the Bank of Ghana.

The NDC gave an ultimatum for the Governor, Dr. Ernest Addison, and his deputies to resign within 21 days over GH¢60bn financial loss incurred by the central bank in 2022.

Speaking on a panel discussion on Peace FM’s Kokrokoo on August 9, 2023, he labeled the picketing approach as a "lazy man's approach," and instead urged the minority party to seek more constructive means of addressing their concerns.

He stated: “Do they have the power to appoint and disappoint… who appointed the governor of the Bank of Ghana? Going to picket there and after that they expect the Bank of Ghana to release money and pay them?

"Are we behaving like kindergartens… I disagree with this picketing because it will end nowhere… at least they should give respect to the governor of the Bank of Ghana and the finance minister because they have been able to stabilize things."

Allotey stressed that the strategy was counterproductive and creating unnecessary tension in the country.

"I believe the best thing for them to do was to have called on the speaker or the leadership of Parliament to through the finance committee to call on the governor of the Bank of Ghana to find out what is happening.

"What I want to tell the Minority is that look at what is happening in the west coast of Africa. Don't create tension and don't think that something will happen for you to get something".

"It will not be possible but rather you will create some kind of thing that cannot be described," he added.

The opposition party accuses the Governor and his deputies of mishandling the bank resulting in the bank losing a 6 billion dollars.

"We in the National Democratic Congress (NDC) saw the red flags and have consistently warned of the mismanagement of the financial sector by the Governor of the Central Bank and his team of incompetent deputies.

"Only last week, the Annual Report and Financial Statement of the Bank of Ghana was released. This report depicted the catastrophic decline of the Bank into a bottomless pit. The report revealed...Bank of Ghana recorded a staggering loss of GHS60.8 billion, which is equivalent to $6 billion. This is twice the amount we are to receive from our recent IMF bailout.

"This means the recklessness and mismanagement of the Governor of the Bank of Ghana has cost the nation twice what we are struggling and sacrificing to receive from the IMF amid major conditionalities," a statement read by Minority Leader, Ato Forson outlined.

They indicated their resolve "to embark on popular action to occupy the Central Bank and drive out the team of inept, callous and criminal mismanagers of the finances of this country and Save the Bank of Ghana", stressing "the March to Ensure Accountability will begin in 21 days if the Governor of the Bank of Ghana does not do the needful and pack bag and baggage out of that sacred institution that he has so desecrated".



AM/SARA



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